Minority Purchasing Power 2000-2045

How has the economic status of the United States' Minority population changed in the 1990s? The Census Bureau's data on aggregate money income for the Minority population 15 years old and over show an increase of 47 percent, from $0.7 trillion in 1990 to $1.0 trillion in 1998 (both in 1998 dollars). This growth was more rapid than that for the non-Minority (non-Hispanic White) population (18 percent). As a result, the Minority share of the total aggregate money income grew from 16 percent to 19 percent during this period.

1. By 2045, Minority purchasing power may reach $4.3 trillion (1998 dollars, figure 1).
2. Or as high as $6.1 trillion (1998 dollars) if income disparity were eliminated by 2045.
3. Minority population may contribute 44 percent, or as much as 70 percent, of the total increase of purchasing power from 2000 to 2045 (Figure 2).
4. Minority purchasing power may represent an increasing share of total purchasing power, from 20 percent in 2000 to 32 percent in 2045.

FIGURE 2. Projected Minority Share of Total Increase in Purchasing Power Under Alternative Income Disparity Factor Assumptions:2000-2045